WEAT•| Last | Change | Pct Move |
|---|---|---|
| CBOT wheat Wv1 | 657.00 | -6.50 |
| CBOT corn Cv1 | 467.25 | -1.25 |
| CBOT soy Sv1 | 1188.50 | -0.25 |
| Paris wheat BL2U6 | 227.50 | -2.00 |
| Paris maize EMAc1 | 250.25 | -2.00 |
| Paris rapeseed COMc1 | 486.75 | 0.00 |
| Euro/dlr EUR= | 1.15 | -0.002 |
Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne
The European Commission on Thursday cut its forecast for usable production of most grain and oilseeds in the European Union in 2026/27, including an 8% output drop for soft wheat and a 14% production drop for grain maize compared to 2025/26.
Soft wheat stocks at the end of the season in June next year were seen at 12.9 million tons, down from 13.8 million forecast last month and 16.5 million at the end of June this year.
"The supply of wheat in the EU is therefore likely to become noticeably tighter," Fitch said.
Wheat Wv1 fell 1% to $6.57 a bushel by 1035 GMT after it surged to $6.87 a bushel in the previous session.
The corn contract on the Chicago Board of Trade Cv1 eased 0.3% to $4.67-1/4 a bushel and was on track for a monthly gain, snapping two consecutive monthly losses.
Its most-active soybean contract Sv1 was down 0.1% at $11.88 a bushel, falling for a third straight session as rain forecast in the U.S. Midwest near the end of the week - vital for the soybean crop as it reaches the pod-setting phase of its development - weighed on the contract.
"With the weather looking better as the calendar turns to August and managed funds are sitting on a sizable net long, there is risk of more weakness in the near term," a grains brokerage said in its note.
Chicago wheat fell on Friday but was on track to book a gain of more than 11% for July, the first monthly rise in three months, on mounting concerns over Black Sea supplies due to attacks by both Russia and Ukraine.
Ukrainian drones have attacked a sunflower oil export facility at Russia's port of Taman in the Kerch Strait, three agricultural market sources told Reuters on Thursday.
"Yesterday’s attack has made it less likely that grain shipments through this strait – which have been suspended since July 10 – will resume any time soon," Commerzbank analyst Carsten Fritsch said in a note.
Shipowners, insurers and exporters may become increasingly reluctant to operate in the region, lifting freight costs and slowing the movement of grain, Andrew Whitelaw at Australian agricultural consultancy Episode 3 said.
